Why is solar energy important?

Developing the abundant solar resources in sub-Saharan Africa, Southeast Asia, and the Latin America and Caribbean region is particularly critical for improving energy access and security. In the decisive years between now and 2030, solar energy will be essential to our ability to reach global development and climate goals.

How can solar energy be used in developing countries?

Tapping into abundant solar resources in developing and emerging economies will improve energy access and security and can help achieve the UN Sustainable Development Goals (SDGs) (i.e., SDG-7 on affordable and clean energy and SDG-13 on curbing climate change).

How can a detailed analysis of solar investments help countries?

Detailed analysis of solar investments can help countries, policymakers, financial institutions, and decision-makers in understanding the current status as well as the trends in the solar investment landscape and guide them in making focused interventions to accelerate solar energy adoption and clean energy transition. 4.1. Global solar investments

Who contributes to solar energy financing?

Private actors have been the main contributors to solar energy financing; this is evident from the fact that the share of the private sector in the solar sector accounts for ∼86% of total investments, with project developers occupying the major share of ∼56%.

When was solar energy invented?

In 1954, Pearson, Fuller, and Chapin (USA) patented the first element with about 6% efficiency. Four years later, sola r batteries have become the main energy source for spacecraft in the USSR and the USA. By the m id-70s, the efficiency of solar cells approach ed

Who is preparing a solar energy plan?

It has been prepared by World Resources Institute (WRI) and the International Solar Alliance (ISA), in partnership with Bloomberg Philanthropies and in collaboration with CONCITO, the Investment Fund for Developing Countries, and the World Climate Foundation.